(Bloomberg) — More than 100 people died in an explosion at an illegal oil refinery in southeastern Nigeria over the weekend, demonstrating the dangers associated with an illicit industry that thrives in the crude-producing region.
The blast at …
BRUSSELS – European Union countries will this week debate a possible deal to share out the costs of buying gas to fill storage and build a supply buffer ahead of next winter, according to a draft document seen by …
LONDON – Portfolio investors purchased petroleum last week for the first time in four weeks, but overall positioning remained subdued by the high cost of margin and large uncertainties surrounding both crude supply and demand.
Hedge funds and other …
U.S. oil refiners expect strong first-quarter earnings as margins to sell gasoline and diesel strengthened due to a steep dropoff in refining capacity and crude oil supplies tightened because of Russia’s war with Ukraine.
Refining capacity worldwide has dropped …
(Bloomberg) — Libya’s oil ministry said fields shut down by protesters may reopen within days, potentially allowing the OPEC member to get back to full production.
Oil Minister Mohamed Oun met tribal leaders on Sunday to discuss the …
LONDON – Oil slumped almost 6% to its lowest in almost two weeks on Monday, extending last week’s decline as concern grew that prolonged COVID-19 lockdowns in Shanghai and potential increases in U.S. interest rates would hurt global …
LONDON – Britain has granted Russia’s Gazprombank and its subsidiaries a licence for payments until the end of May despite sanctions in order to ensure gas supplies to the European Union, a Treasury document showed on Friday.
The licence …
This week’s Baker Hughes rig count shows that U.S. had an increase of 2 over last week, resulting in a total count of 695 rigs. Canada had a decrease of 2 over last week, resulting in …
(Bloomberg) — Liberty Oilfield Services Inc. posted its best quarterly sales since going public more than four years ago as the global energy crisis spurs a boom in demand for fracing.
The second-biggest provider of frac work in …
(Bloomberg) — The energy crisis triggered by Russia’s invasion of Ukraine is increasing the world’s motivation to shift to low-carbon energy, but is also creating a near-term scramble for fossil fuels that will drive billions of dollars of …
Refiners are planning to spend the summer increasing jet fuel and diesel production instead of gasoline, traders and analysts said, favoring what have historically been the least profitable parts of the barrel instead of the most profitable.
That is …
LONDON – Exxon Mobil is considering a complete withdrawal from Russia by June 24, two sources familiar with plans told Reuters on Thursday, following the U.S. group’s earlier decision to exit from its oil and gas operations in …
SACRAMENTO, Calif.–(BUSINESS WIRE)–The California Independent Petroleum Association (“CIPA”), a non-profit, non-partisan trade association representing approximately 500 independent crude oil and natural gas producers, royalty owners, and service and supply companies operating in California, has
April 12, 2022- For 25 years, global petroleum consultancy Netherland, Sewell & Associates, Inc. (NSAI) has hosted a series of highly regarded oil and gas property evaluation seminars. These jam-packed seminars are designed to give energy …
(Bloomberg) — Shale explorers in the Permian Basin chewed further into their supply of ready-made wells for a 20th straight month, leaving the smallest inventory of low-cost wells in the biggest U.S. oil field in more than half …
CALGARY, Alberta – Canada is favouring oil projects with lower carbon emissions per barrel to help meet its climate targets, a strategy that may block Suncor Energy’s plan to expand bitumen mining to feed its key oil sands …
OSLOMEJ – Balkan nations in southeast Europe are turning to coal as they try to tackle a global surge in energy prices, raising fears among environmentalists that countries are rowing back on commitments to phase out the most polluting …
LONDON – OPEC+ produced 1.45 mln barrels per day (bpd) below its production targets in March, as Russian output began to decline following sanctions imposed by the West, a report from the producer alliance seen by Reuters showed.
Russia …
LONDON -Oil prices fell in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) reduced its economic growth forecasts and warned of higher inflation.
Brent crude was down $3.94, or 3.4%, to $109.22 a
(Bloomberg) — Iraq’s cabinet may reactivate a deal with Halliburton Co. to drill wells in a western gas field in Akkas next month, Oil Minister Ihsan Abdul Jabbar told local media.
An agreement with Halliburton would enable the …
Southwest Gas Holdings Inc SWX.N said on Monday it would evaluate selling itself, among other alternatives, after an unnamed potential buyer showed interest in acquiring the utility at a price “well in excess” of Carl Icahn’s $82.50 per share …
BEIJING – China’s coal output rose 15% in March from the same month a year ago, with daily production climbing to a record, as Beijing urged miners to crank up operations to ensure steady market supply.
China churned out …
Saudi Arabia’s crude exports in February rose to 7.307 million barrels per day (bpd), the highest level since April 2020, official data showed on Monday.
Crude oil exports in February rose 4.4% from about 7 million bpd reported for …
U.S. natural gas prices surged to the highest level in more than 13 years Monday as Russia’s war on Ukraine causes a global energy crunch, and as forecasts called for cooler spring temperatures.
Futures jumped more than 6% to …
LONDON -Oil rose on Monday in choppy trade, with Brent crude topping $113 a barrel, as outages in Libya deepened concern over tight global supply and the Ukraine crisis dragged on, offsetting concern over slowing Chinese demand.
Adding …
(Bloomberg) — President Joe Biden’s administration is dramatically curtailing U.S. public land available for new oil and gas development as it seeks to impose more environmental protections and financial limitations on the activity.
The shift is part of …
